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    sam33's Avatar
    sam33 Posts: 9, Reputation: 1
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    #1

    Mar 14, 2007, 06:41 AM
    Journalize inventory
    How to journalize this


    Counted the inventory and determined there were actually 74 chairs on hand
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 14, 2007, 12:53 PM
    What is the balance in the account?

    Let's say it is 174.

    That means you used up 100 (174-74)

    Dr. COGS 100
    Cr. Inventory 100
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